Hidden accounts worth half a million euros in the USA discovered in Plus Ultra case. A businessman linked to Plus Ultra has been found to hold substantial sums in Miami banks. Investigators are examining whether these funds are connected to the state bailout of the airline. The court has eased restrictions on those involved.
The investigation into the rescue of the airline Plus Ultra continues in Spain, with businessman Julio Martínez Martínez at its center. According to El Mundo and information confirmed by EL PAÍS, he was found to have bank accounts in Miami holding over half a million euros. Investigators determined that these funds were transferred from Luxembourg several years ago and deposited in a private US investment bank.
Authorities suspect Martínez of money laundering and participation in a criminal organization. In December 2025, when the businessman was detained, UDEF officers seized a computer containing correspondence with the foreign account manager. Case materials indicate that about 200,000 euros in transactions were processed through these accounts in 2025. So far, no direct link has been established between these funds and the Plus Ultra state loan, but the investigation continues under secrecy.
Easing of measures for those involved
This week, National Court judge José Luis Calama relaxed restrictions for Martínez and five other individuals involved in the case, including Plus Ultra executives and businessman Felipe Baca Arbulú. They are now allowed to travel freely within EU countries and no longer need to report to court every two weeks. The judge acknowledged that the flight risk has decreased, although investigators still have grounds to suspect Martínez of embezzlement, influence peddling, money laundering, and participation in a criminal group.
Details of the investigation and connections with Venezuela
During searches at Martinez's home, police discovered 300,000 euros in cash. He explained the origin of this money as proceeds from real estate sales and family savings. Investigators are also examining the activities of his company, Análisis Relevante SL, through which Martinez received over 460,000 euros from Plus Ultra for services and projects in Venezuela. At the firm’s office, invoices were found in the name of former Prime Minister José Luis Rodríguez Zapatero, who stated he provided “global consulting” for Análisis Relevante but did not specify who the final client was. Zapatero received approximately 460,000 euros from the company between 2020 and 2025.
Particular attention from investigators was drawn to a contract found on Martinez’s computer, according to which one of his companies could receive 1% of the government bailout for Plus Ultra—more than 500,000 euros if the deal went through. The decision to allocate 53 million euros to the airline was made by the Council of Ministers after the pandemic, at a time when several carriers required support. The opposition repeatedly pointed to possible irregularities in the distribution of these funds, but Zapatero categorically denies any influence on the process and insists he did not discuss the issue with government or transport ministry officials.
Context and parallels
While the anti-corruption prosecutor's office analyzes the documents and the origins of the funds, the question of possible use of public money for laundering Venezuelan capital remains open. Attention to such cases in Spain is not waning: the country has already seen high-profile investigations related to political support and the allocation of budgetary funds. For example, the Partido Popular leadership recently publicly backed Mariano Rajoy in the Kitchen case, which sparked a reaction among both authorities and the opposition — more details on this can be found in the article about the party's response to the accusations against the former prime minister.
